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  • #651,661
  • Jun 5, 2012 3:44am Jun 5, 2012 3:44am
Quoting BFSGcapital
hehe you must not use any margin if 25 pips is nothing

20 pips to me can be up to 1% of my account

for the most confident and best r/r trades ill use 5x leverage max with 20 pip stop.
this is the reason why account gets blown after some time..

good strategy + high lot ( bad money management) = Account blown
bad strategy + good money management = Account still safe
bad strategy + bad money management = FU%KED
Good strategy + Pateince + Emotnions control + Expereince + MONEY MANAGEMENT = SUCCESS !

I am mainting my account since 3 years without any losing month and with an monthly average of 20-40% profit and taking a total drawdown risk of 20% maximum.

For me pips do not count, the money counts.. Minium lot size 0.10 for me and I lost on that trade 25$ but at the same time was covering with GU short with 0.30 lot and closed together in total of 142$ in positive.. so all good for me..
  • #651,662
  • Jun 5, 2012 3:44am Jun 5, 2012 3:44am
Quoting tightscalper
yeah i think your pretty on the money. 1.23.... around there some where for a sole trader i would be looking to be out before 1.23 is hit but im thinking its going to go down to a new low.. i think most are now expecting it to hit lows.?
as it is back inside the bearish down trend, yes, i'm expecting new lows now , but i don't position trade, although i probably will one day when i am better at it

never really expected anything more than exactly what we just got, like we got at 1.265, a fake breakout.
An opportunity lost is not a capital cost.
  • #651,663
  • Jun 5, 2012 3:44am Jun 5, 2012 3:44am
Quoting tightscalper
Total Trades: 24 Short Positions (won %): 24 (100.00%) Long Positions (won %): 0 (0.00%)
Profit Trades (% of total): 24 (100.00%) Loss trades (% of total): 0 (0.00%)

im going for a break be back at us open.. +129
extremely consistent trading - congrats mate
swing it!
  • #651,664
  • Jun 5, 2012 3:45am Jun 5, 2012 3:45am
Quoting MaxDoom
Hourly appears to have completed an ABC correction of the drop down from 28th May.

A break above 1.2541 will negate this view otherwise we should see a test of 1.2278.

It has moved nicely down so far, next steps are to clear 1.2400 then 1.2380 after that hopefully a clear run to full target zone at 1.228x
Attached Image (click to enlarge)
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  • #651,665
  • Jun 5, 2012 3:46am Jun 5, 2012 3:46am
i suspect it will fall more.
  • #651,666
  • Jun 5, 2012 3:47am Jun 5, 2012 3:47am
and it fell 40 pips within no time. suspect heavy sell off is coming.
  • #651,667
  • Jun 5, 2012 3:49am Jun 5, 2012 3:49am
Quoting fxkiller
[b][color=DarkRed]this is the reason why account gets blown after some time..

good strategy + high lot ( bad money management) = Account blown
bad strategy + good money management = Account still safe
bad strategy + bad money management = FU%KED
Good strategy + Pateince + Emotnions control + Expereince + MONEY MANAGEMENT = SUCCESS !

I am mainting my account since 3 years without any losing month and with an monthly average of 20-40% profit and taking a total drawdown risk of 20% maximum.

For me pips do not count, the money counts.. Minium lot...
yes i agree, however, if you are a good enough trader, there is such thing as under leveraging.

but i dont care how good you are, anything over 2% loss is insane imo, 1% is pushing it even. really, its all about the stop loss. you could do 10x leverage with a 5 pip stop, nail the top perfectly, risk only 0.5% of your account, and 100 pips = 10%

but most important thing is never to have drawdown past 20%

sure this chart will show all traders why to never lose more than 20% of your account, or it WILL be very tough to recover.

edit: a ton of typos... that didn't even make sense at first fixed now

and wow, 20-40% per month, that is over 1% per day, which is roughly 1000% gain per year, 10000% in 2 years, 100000% in 3 years... but im sure you know this already.
Attached Image
An opportunity lost is not a capital cost.
  • #651,668
  • Jun 5, 2012 3:50am Jun 5, 2012 3:50am
Quoting Nachiket
and it fell 40 pips within no time. suspect heavy sell off is coming.

did you take your AUD$ long entry?
  • #651,669
  • Jun 5, 2012 3:54am Jun 5, 2012 3:54am
Quoting MaxDoom
did you take your AUD$ long entry?

I exited in 15 pips.
  • #651,670
  • Jun 5, 2012 3:55am Jun 5, 2012 3:55am
Quoting BFSGcapital
yes i agree, however, if you are a good enough trader, there is such thing as under leveraging.

but i dont care how good you are, anything over 2% loss is insane imo, 1% is pushing it even. really, its all about the stop loss. you could do 10x leverage with a 5 pip stop, nail the top perfectly, risk only 0.5% of your account, and 100 pips = 10%

but most important thing is never to have drawdown past 20%

sure this chart will show all traders why to never lose more than 20% of your account, or it WILL be very tough to recover.

edit: a...

interesting.
  • #651,671
  • Jun 5, 2012 4:00am Jun 5, 2012 4:00am
I miss Cloggie..
We're all stories in the end. Just try to make it a good one.
  • #651,672
  • Jun 5, 2012 4:01am Jun 5, 2012 4:01am
moore bad eu news
If you are new to Forex? Say Goodbye to your account!!
  • #651,673
  • Jun 5, 2012 4:03am Jun 5, 2012 4:03am
All data in the euro zone released so far is crap, more downside, we should eye 2385 soon.
  • #651,674
  • Jun 5, 2012 4:05am Jun 5, 2012 4:05am
Quoting fxkiller

I am mainting my account since 3 years without any losing month and with an monthly average of 20-40% profit and taking a total drawdown risk of 20% maximum.
Im impressed

Start capital?
  • #651,675
  • Jun 5, 2012 4:11am Jun 5, 2012 4:11am
Quoting freethug
All data in the euro zone released so far is crap, more downside, we should eye 2385 soon.
agreed but need be careful this pair has 2 componants, euro & usd, bad euro news, yes, but usd is hitting resistance, so intial reation is nada, need one to yield, often see horrible eu news and eu is go up trap many traders, cause not consider other half of pr or corelations to other prs,,

need extra eyeball sometimes, forex not designed for 2 eyeball people

need patiences wait for one to yield,
If you are new to Forex? Say Goodbye to your account!!
  • #651,676
  • Jun 5, 2012 4:13am Jun 5, 2012 4:13am
Quoting fxkiller
I am mainting my account since 3 years without any losing month and with an monthly average of 20-40% profit and taking a total drawdown risk of 20% maximum.
Wow you must be a Gazillionaire!
  • #651,677
  • Jun 5, 2012 4:14am Jun 5, 2012 4:14am
Quoting KiwiTrada
agreed but need be careful this pair has 2 componants, euro & usd, bad euro news, yes, but usd is hitting resistance, so intial reation is nada, need one to yield, often see horrible eu news and eu is go up trap many traders, cause not consider other half of pr or corelations to other prs,,

need extra eyeball sometimes, forex not designed for 2 eyeball people

need patiences wait for one to yield,
ok waited, now looking better for bear to continue maybe watching 2431 reaction
If you are new to Forex? Say Goodbye to your account!!
  • #651,678
  • Jun 5, 2012 4:15am Jun 5, 2012 4:15am
low end rangeish
bonds/es/nq confirming.

expecting a down opening good for chi/ny

3/8/9/

6
  • #651,679
  • Jun 5, 2012 4:16am Jun 5, 2012 4:16am
hope price will bounce 50% Fibo
so it will up at least 1.2460 and
then sell again ...
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  • #651,680
  • Jun 5, 2012 4:16am Jun 5, 2012 4:16am
Quoting Magicgoan
Im impressed

Start capital?
I am confused. 20-40% profit - is this on total trading capital.

e.g. if £10000 is starting capital then £2000 for first month? On that basis after compounded return the corpus of £10000 will have grown to millions. I must be completely off track here. Can someone please elighten me how this works.
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